Portland, OR -- (SBWIRE) -- 07/03/2018 -- Rest of Latin America (Except Brazil, Argentina, and Mexico) is expected to lead the Latin America copper cable market for LAN application throughout the forecast period, followed by Brazil. Argentina is expected to grow at highest CAGR during the forecast period.
The Latin America Copper Cable Market for LAN application was valued at $87.74 million in 2016, and is projected to reach at $203.35 million by 2023, growing at a CAGR of 12.55% from 2017 to 2023.according to the latest report published by Allied Market Research.
North America dominates this market presently, followed by Europe. However, Asia-Pacific is expected to have a highest CAGR throughout the forecast period. Factors such as growth in demand for data, improved cable technology, and easy installation & connection drives the Latin America copper cable market for LAN application. However, negative impact of Internet of Things (IoT) hampers the growth of the market.
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In 2016, the CAT 6 cable dominates the Latin America copper cable market for LAN application in type segment, in terms of revenue. Furthermore, based on application, industrial applications led the Latin America market followed, by commercial in 2016. However, residential application segment is expected to depict highest CAGR throughout the forecast period.
Growth in Demand for Data
Growth in demand for data on both fixed and mobile networks builds pressure on operators to invest in improved copper or fiber networks and provide connectivity in reach of consumers. In recent years, increased Internet penetration is witnessed, in terms of live content for media, which resulted in large volume of data generation. Therefore, requirement of high Internet speed and reliable data transmission cables drive the growth of the copper cable.
Improved Cable Technology
The cable technology has witnessed continuous innovation over the years. They are mainly categorized into copper and fiber-optic cables. Copper cables find wide applications due to their low cost and high security & reliability, whereas fiber-optic cables are applicable in areas such as oil & gas industry. Copper cables range from Category 1 to Category 8, depending upon the frequency and rate of data transmission.
Key Findings of the Latin America Copper Cable Market:
- CAT 6 cable type generated the highest revenue of the Latin America copper cable market for LAN application in 2016.
- In 2016, the industrial application generated the highest revenue among the Latin America copper cable market for LAN application in application segment.
- Argentina is anticipated to exhibit a highest CAGR during the forecast period.
- In 2016, Rest of Latin America (Except Brazil, Argentina, and Mexico) contributed the highest market shares in the Latin America copper cable market for LAN application followed by North America.
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The key players profiled in the report include Belden Inc., Commscope, General Cable Technologies Corporation, Hitachi, ltd., Nexans, Induscabos Electricos, Prysmian group, Leviton Manufacturing Co., Inc., Siemon, and Panduit.